MONTREAL-Telesystem International Wireless Inc.’s Central/Eastern European subsidiary ClearWave N.V. filed a registration statement with the Securities and Exchange Commission in the United States for an initial public offering of ordinary class A shares.
TIW said that concurrently with the IPO, certain existing shareholders in Romanian Global System for Mobile communications operator MobilFon S.A. and all of the minority shareholders in TIW Czech N.V. will become shareholders of ClearWave and intend to offer for sale a portion of their equity interests in ClearWave as part of the offering.
After the offering, ClearWave will own 85.5 percent of Czech GSM operator Cesky Mobil A.S., and 77.4 percent of MobilFon S.A. TIW said it will own a 53.7-percent equity interest in ClearWave.
ClearWave expects to gross approximately $150 million in the offering, which it plans to use to build out its GSM network in the Czech Republic and repay certain indebtedness.
The offering’s joint global coordinators are Bear, Stearns & Co. Inc. and Schroder Salomon Smith Barney.
